This summer has shown some of the greatest signs of recovery since the housing crisis occurred, according to Dean Graziosi. Home values continued to improve during the month of August, which is responsible for the largest annual increase since July of 2006. With all of the improvements that were reported, Dean Graziosi states that the fast pace in rising home values is beginning to slow down as mortgage rates begin to rise.
After home values have remained fairly stagnant for the last two years, this summer demonstrated the first time the market has experienced steady growth and improvement since the housing crisis. Mr. Graziosi states that home value increases peaked in May and steadily grew throughout the summer. But as summer draws to a close, so do the reports of steady value increases. While the market slows down as a result of cooler weather and a cooler buying climate, home values are estimated to remain steady for the time being.
Mr. Graziosi also states that while values may not increase at the recent pace we have witnessed, they will remain steady and are estimated to rise another 5.2 percent over the next year. While this pace is somewhat slower than what we have recently witnessed, it is still a positive sign for the real estate market and for sellers looking to sell their homes. It is estimated that the majority of growth will take place in larger metro areas.
As with anything in the real estate market nothing is guaranteed, but experts are optimistic
Mr. Graziosi is excited for the market and for sellers who have been waiting for home values to improve. He believes that this is a sign that the market and home values are heading in the right direction and will likely continue to improve. He expresses that this is the ideal time for sellers to consider listing their homes because their values have likely increased. The market is still full of buyers who are looking for the perfect home, sellers now have an increased chance of receiving their asking price, and in some cases more.after the positive signs of improvement over the recent summer. If you are a seller who has been reluctant to list your home because of low home values, you may want to consider listing it now as home values continue to improve. Since the housing crisis occurred, this is the first time that the real estate market has shown steady signs of improvement. This should be taken as a good sign that the market is well on its way to regaining some of the value losses it experienced.